I think the lowball listings are exactly what’s needed to fix the housing mess.
If a house is priced low, we have ample evidence to show it gets quickly bid up to market price: what buyers are willing and able to pay at that particular time.
Why would that be a bad strategy? Seems like the banks could clear their inventory, we could get true price discovery, and strong buyers would be able to buy homes for their families — instead of waiting for years as all the stuck flippers and banks come to the realization that the bubble isn’t coming back to save them.
